Bitwise Files for Near Protocol ETF, Accelerating Altcoin ETF Race

Bitwise Asset Management has officially entered the crowded arena of cryptocurrency exchange-traded fund (ETF) applications by filing a spot Near Protocol (NEAR) ETF with the U.S. Securities and Exchange Commission (SEC). This move positions Bitwise among the companies vying for regulatory approval for alternative crypto ETFs. The proposed Bitwise NEAR ETF aims to mirror the price of NEAR, the native token of the Near blockchain, without factoring in management fees. While specifics like ticker symbol, fee structure, and potential stock exchange listing remain undisclosed, the filing names Coinbase Custody as the fund’s potential custodian.